Panariagroup Industrie Ceramiche S.p.A. of Italy, one of the world’s leading ceramic tiles company, has joined hands with India’s leading tiles maker, Asian Granito India Ltd., to form a new 50:50 joint venture company, Panaria Asian Pvt. Ltd., to tap the high-end luxury tiles market in India. This new JV’s products will be sold under the new brand ‘Bellissimo – STILE ITALIANO’ to reflect Italian elegance, technology and innovation. It plans to invest Rs. 100 crore over the next 3-5 years in manufacturing as well as setting up a nation-wide distribution network for luxury tiles.
With a presence in over 100 countries, the over Euro 300 million Panariagroup is a world leader in the manufacture and distribution of high-end and luxury porcelain stoneware flooring and wall coverings, with production sites in Italy, Portugal and the USA. Asian Granito India, a Rs. 620 crore plus company, listed on the NSE and BSE, is one the top 5 ceramic tiles company in India with a strong distribution network across the country and five manufacturing plants in Gujarat.
Welcoming this new initiative, Kamlesh Patel, Chairman of Asian Granito India Ltd. said, “The joint venture company headquartered at Ahmedabad, Gujarat will offer products comprising a selected range of Panariagroup's best sellers manufactured in Italy and collections produced in Asian Granito's Indian plants under an exclusivity agreement. It will be supported by Panariagroup's technical team to ensure that touch of Italian style.”
Explaining the focus of this high-end brand, Sanjay Monga, Country Manager – India of Asian Panaria Pvt. Ltd., said, “Bellissimo sets out to be the point of reference for planners, interior designers, architects and end users who are looking for products that combine the highest technical standards and the aesthetics of Italian products, which for centuries have been the symbol of unique excellence throughout the world. With production of over 600 million square metres per year and annual growth rates in double digits, India is the third-largest ceramic tile market in the world in terms of consumer spending.”
Andrea Campaner, Managing Director of Panariagroup India, added, “We want to become the market leader in the Indian luxury ceramic tiles market in the next five years and capture 35% of the total luxury market share in value terms. We will bring in R&D activities, differentiation, focusing on the market and to become a close partner to all the needs and requirements of our clients.